Visitor

About Me

Sunday, December 7, 2008

New Delhi, Dec. 5 The Centre’s personal income-tax collections were pegged at Rs 5,782 crore in November 2008, reflecting a 31.28 per cent decline over the collections of Rs 8,414 crore recorded in the same month last year.

Corporate tax collections too declined in November 2008 on a year-on-year basis. In November 2008, the Centre’s corporate tax collections stood at Rs 4,561 crore, recording a decline of 41 per cent over the collection level of Rs 7,741 crore in the same month last year.

Personal income-tax collections indirectly mirror the state of the economy as these represents taxes from the salaried and informal businesses.

Seasonality

There is seasonality in direct tax collections and November is not generally a month where one sees strong corporate tax collections, industry observers pointed out.

Official data released by the Central Board of Direct Taxes (CBDT) here today showed that personal income-tax collections (includes BCTT, STT and FBT) during April-November 2008 stood at Rs 67,215 crore, reflecting a 15.28 per cent increase over the Rs 58,304 crore collected in the same period last year.